CME Group Adds to Crypto Offerings With Ether Options

The exchange will allow traders to make bets and manage risk ahead of the Ethereum Merge.

AccessTimeIconAug 18, 2022 at 2:32 p.m. UTC
Updated Aug 18, 2022 at 3:06 p.m. UTC

Michael Bellusci is CoinDesk's crypto payments reporter.

Derivatives marketplace Chicago Mercantile Exchange (CME) plans to start offering options for ether (ETH) futures on Sept. 12, the company said in a statement Thursday.

The offering will add to CME's existing crypto products, which include bitcoin and ether futures, and bitcoin options.

The overwhelming majority of ether options trading occurs over-the-counter, and activity has surged ahead of the Ethereum blockchain's software update known as the Merge. CME’s expected launch comes shortly before the Merge is tentatively scheduled to go live, either on Sept. 15, 16 or 20.

"As we approach the highly anticipated Ethereum Merge next month, we continue to see market participants turn to CME Group to manage ether price risk," Tim McCourt, global head of equity and foreign-exchange products at CME Group, said in the statement.

"Our new ether options will offer a wide array of clients greater flexibility and added precision to manage their ether exposure ahead of market moving events," he added.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto payments reporter.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto payments reporter.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC